If you're looking for a way to increase efficiency and ROI while also improving customer relationships and gaining greater visibility into the sales pipeline, then account-based marketing may be right for your business. But do you know how to reap its benefits?
The modern buyer has changed. With more information at their fingertips than ever before, buyers are now in the driver’s seat when it comes to making a purchasing decision. No longer can businesses rely on a one-size-fits-all marketing approach. They must now tailor their marketing efforts to fit the needs of each buyer. This is where account-based marketing comes in.
What is Account-Based Marketing?
Also known as ABM, account-based marketing is a strategic approach that focuses on key accounts rather than a large group of anonymous leads. By taking a targeted and personalized approach, businesses can increase their chances of success when selling to large organizations. The ultimate goal of ABM is to generate quality leads that turn into long-lasting, valuable relationships. By taking an ABM approach, businesses can increase their ROI by as much as 20 times compared to traditional marketing methods. In fact, reports show that 94% of B2B marketers use ABM.
Value of Content in ABM
As account-based marketing has grown in popularity, so has the role of content within this strategy. By its very nature, ABM is a highly targeted approach that seeks to engage specific accounts with personalized messages and offers. Content plays a vital role in this process, serving as both a top-of-the-funnel awareness tool and a key piece of account-level engagement.
At the top of the funnel, effective ABM content must be able to reach and resonate with target accounts. Once these accounts are engaged, personalized content can then be used to further nurture them down the funnel. In both cases, the success of ABM relies heavily on the quality of the content being used.
The role of content in ABM has evolved significantly in recent years, and it shows no signs of slowing down. As ABM continues to grow in popularity, so too will the importance of content within this strategy.
How Can Your Business Implement ABM?
ABM is growing in popularity, especially among B2B companies. Why? Because ABM can be extremely effective, providing several benefits for businesses that implement it. According to reports, 97% of marketers say ABM delivers a higher return on investment (ROI) than other marketing strategies. Let’s take a look at you can implement ABM for your business -
Define Your Ideal Customer
The first step in any good marketing strategy is to define your ideal customer. This step is even more important when it comes to ABM because you will be tailoring your efforts to fit the specific needs of each account. When defining your ideal customer, be sure to consider factors such as company size, location, industry, and budget. Once you've defined your ideal customer profile, you can start targeting similar companies and individuals. Surveys show that 57% of ABM marketers target 1000 accounts or less to be successful.
Create Targeted Content
Once you have defined your ideal customer, you can begin creating targeted content that is tailored to their unique needs and pain points. This content should be designed to nurture the relationship between your business and the target account and eventually lead to a sale. Reports suggest that 56% of marketers say personalized content is key to a successful ABM strategy. There are a number of different content formats you can use, such as e-books, infographics, blog posts, case studies, webinars, and whitepapers. The important thing is that the content speaks directly to the needs of your target customer.
Identify Decision Makers
Another important step in account-based marketing is identifying the decision-makers within each target account. This can be done through research or by using tools like LinkedIn Sales Navigator. Once you have identified the decision makers, you can begin tailoring your content and outreach efforts specifically for them.
Outreach and Engagement
The next step in a good ABM strategy is outreach and engagement. This is where you reach out to your target accounts and begin building relationships with the decision-makers within those organizations. There are a number of different ways you can do this, such as through email, phone calls, social media, events, or direct mailers. The key is to be personal and tailored in your approach so that you stand out from the competition.
The final step is to measure the success of your ABM campaign by looking at key metrics such as website traffic from targeted accounts, increased sales pipeline activity, and closed deals. By tracking these metrics, you'll be able to adjust your strategy moving forward in order to continue seeing results.
What are the Benefits of ABM?
Focused and Personalized Marketing
With account-based marketing, you can focus your marketing efforts on a specific group of accounts, providing a more personal experience for each customer. This can lead to increased sales and better customer retention rates.
Easier Targeting and Measurement
It can be difficult to target specific groups of customers with traditional marketing methods. With account-based marketing, you can target customers using data that is specific to their accounts, making it easier to identify and measure the success of marketing campaigns.
Account-based marketing can help you save time and money by allowing you to focus your resources on a smaller group of high-value customers. This approach can also help you create more customized and personalized content, which is more likely to convert leads into customers.
Greater Insight into Customer Needs
By getting to know specific accounts better, you can gain a deeper understanding of your customer's needs and how to best meet them. This allows you to create more targeted and effective marketing campaigns that are more likely to result in sales.
Account-based marketing can help your business improve its return on investment by ensuring that marketing resources are focused on the most valuable accounts. This approach can also help your business save money by reducing wasteful spending on low-value customers.
Better Customer Relationships
By building stronger relationships with specific accounts, you can create loyalty and increase customer retention rates. Account-based marketing can also help you identify new sales opportunities through existing customers.
Account-based marketing is a scalable approach that can be easily adapted to the needs of growing businesses. This makes it an ideal marketing strategy for businesses of all sizes.
When you focus your marketing efforts on specific accounts, you can increase your visibility within those accounts. This can lead to increased sales and improved brand recognition.
Improved Decision Making
By getting to know specific accounts better, you can make more informed decisions about your marketing strategies and campaigns. This can help you avoid wasting time and money on ineffective marketing efforts.
Account-based marketing provides you with the flexibility to tailor your marketing strategies to the specific needs of each account. This allows you to experiment with different approaches and find the ones that work best for you.
Implementing an account-based marketing strategy can be a game-changer for businesses of all sizes—but only if it's done correctly. By taking the time to define your ideal customer profile, create targeted content, and measure success along the way, you can ensure that your ABM campaign generates quality leads and long-lasting relationships. Ready to get started? Get in touch with Pulp Strategy today, one of the leading strategic marketing agencies in India.